EquityPandit’s Outlook for SBI for the week (Dec 16, 2019 – Dec 20, 2019):

STATE BANK OF INDIA:

BSE: 500112| NSE: SBIN| ISIN: INE062A01020| SECTOR: BANKS

Stock closed the week on positive note gaining 4.11%

Week High: 333.45

Week Low: 308.00

Week Range: 25.45

State Bank of India

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 326 levels, Minor resistance on the upside is capped around 335 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 313 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 339.

Stock is trading below 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 350 on upside and 305 on downside.